Who in emerging markets will get hit the worse by higher interest rates?
The US Federal Reserve decided to raise its key interest rate by 0.25% yesterday marking the second time in the past decade when the bank has increased interest rates. The central bank voted unanimously to raise the key lending rate to a range of 0.5% to 0.75% off the back of stronger economic data, rising employment and rising inflation.
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So far, the market has reacted well to this change. Bonds have understandably sold...
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